TSLA, SMCI and PLTR Forecast – Major Stocks Look to Rally on Tuesday

TSLA Technical Analysis

The Tesla market looks very positive in pre-market trading, as we are likely to open about $8 higher. Ultimately, Tesla looks as if it is trying to threaten a short-term resistance barrier in the form of roughly $369. And if it can take that out to the upside, it’s likely that Tesla really starts to take off, perhaps as high as $480.

Short-term pullbacks should be supported all the way down to at least the 50-day EMA at $315, and of course, we have seen the classic consolidation breakout, and then pullback and continuation from the bottoming pattern. So, this is classic technical analysis that tells you Tesla is probably more likely than not to go higher over the longer term.

SMCI Technical Analysis

Super Micro Computer looks like it’s going to be a little bit positive in the early hours as we continue to dance around the 200 day EMA and the 50 day EMA indicators. That being said, I’m still watching the $50 level quite closely because, apart from a small venture outside of it, it has been like a massive brick wall in this consolidation, perhaps even accumulation pattern. It’s getting a little bit more bullish, but $50 above still has me a little bit hesitant.

PLTR Technical Analysis

Palantir looks like it’s going to open a little bit higher during the trading session on Tuesday, but really at this point in time, I think you’ve got a lot of sideways action where you just don’t really have enough momentum to get things going. And it’s not really that we’re so overstretched, I just think it’s a market that is just grinding higher. It’s a very sleepy stock. However, you can see that we had been consolidating previously, broke out of it, now we’ve tested it a couple of times for support, and we have found it.

Ultimately, I do think Palantir goes higher, but I also recognize that it is going to take an incredible amount of patience to wait for that move unless, of course, some news comes across. Earnings are not until August 11th, so we’ve got some time before that catalyst comes into the picture. It still looks to me like a buy on the dip market.

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